Hi, I plan to take advantage of the builders grant to build a bigger home for myself and family. My thought is to go with a non-bank (lower interest rate) for a loan to buy a block of land, and use my redraw on my current mortgage to finance the build. Once build is complete I would sell my existing home and move into the new one.
1. not sure if a non-bank will loan me money to just buy land, and not knowing i will finance a new build on it myself.
2. will this method still qualify for builders grant?
3. How will the bank apply for builders grant if they are not involved in financing the build? is it something that you can apply yourself? everything i've read suggests its done via the bank.
any help/advice appreciated.